Meredith Whitney has studied the states financial condition over the past 2 years and has come up with a rating for various states. She took state spending, debt, ability to increase taxes, pension status and other items to rate the states. She sees a double dip in housing and will cause these states to require a bailout by the federal government increasing the national debt by a trillion dollars or more. She also discusses major job cuts in the financial industry in the 4th quarter and big trouble in the financial institutions and believes this has not been priced into the market at this time. This will increase the unemployment rate in the 4th quarter or going into the 4th quarter.
No comments:
Post a Comment